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00:00[CC may contain inaccuracies] How much is the unloading of Apple shares? But also Bank of America, for example, have to do with just profit taking? Or could it be about confidence in these companies? So on Saturday, Buffett reported that his conglomerate has cut almost half of its position in Apple. That was during the second quarter. But it's not the first time that they have revealed a selling of Apple's shares earlier during the annual meeting for Berkshire. They talked about selling Apple. It was a release that they signaled as a reduction, as a concentration of risk. And they also referenced that it was trimming the position to balance out the holdings and that it was also related to some sort of tax management. So it wasn't a complete surprise. However, this does. This latest announcement does come amid a broader concern about the potential for an economic downturn. So that's where Bank of America, Berkshire, has cut its stake in the bank by 8.8% in just in July through August 1st. So that is drawing more concern about a possible reflection that Berkshire and Buffett are are showing investors saying that there could be some potential headwinds to come with the economy that they have. So there's some concerns about the US consumer, of course, but also what are the expectations that they'll do with that pile of cash? Right, because even buybacks seem to be too expensive now. That's correct. So Berkshire has said that this is an issue that the firm is having, that they're in no rush to just put that money to work. They're struggling to find ways to deploy their mountain of cash. This is as prices are rising, deal activity has stagnated. So Buffett has said again, they're in no rush to spend it unless they think there is something that has little risk and can make them a lot of money. So they're waiting for that period and that potential opportunity to put their money to work.

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Warren Buffett's Berkshire Hathaway Cuts Apple Stake by Almost Half

Berkshire Hathaway Inc. has slashed its stake in Apple Inc. by almost 50%. That's part of a massive second-quarter selling spree that boosted Warren Buffett’s cash pile to a record $276.9 billion. Katherine Doherty reports on Bloomberg Television. (Source: Bloomberg)

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